Palabora Mining Company Limited - Managing Directo
15 AUGUST, 2001
EXTENSION OF OPEN PIT OPERATIONS TO APRIL 2002
In April this year it was announced that the Open Pit would cease operations
in its present form at the end of January 2002. Thereafter, depending upon
the rate of development of the underground block cave, a ramp and pit-bottom
scavenging exercise might have taken place.
A recent review of the development of the underground block cave has
indicated that a breakthrough into the bottom of the Open Pit is likely to
occur earlier than originally expected. For this reason, I am pleased to
advise that it has been decided that Palabora will utilize its existing
fleet and infrastructure to empty the pit down to a likely final depth of
Bench 62. It is expected that this point will be reached towards the end of
April 2002.
Accordingly, therefore, those employees in the Mining Department who elected
to take early retirement under the recent offer can only now be released on
the 30th April 2002.
D SADLER
MANAGING DIRECTOR
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